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Bond Snaps Up Six-Year-Old Gowi in $17.5 Million Deal
The two companies aim to provide integrated software for HR, payroll.
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Bond Adds Recruiter: Bond International Software, makers of a recruitment
software product named Adapt, is acquiring Gowi Group of London for $17.5
million. Bond will pay $10 million in cash and issue $7.1 million worth of stock
for the remainder. Six-year-old Gowi posts annual revenue of $11.2 million and
employs about 140 people. Billing it as the largest transaction in its history,
Bond said Gowi’s top management will stay on to help integrate the two
companies’ offerings for recruitment, HR and payroll systems. Gowi, which
originally launched in 2001, has made several acquisitions of its own. Most
recently, Gowi acquired Rutherford Webb, an HR and payroll services company in
Surrey, England, for $6.75 million last April.
Next Article: 3. Watson Wyatt Eyes Brans & Co.
The buyback of its alliance partner would continue a string of deals for the Washington-based HR consultancy.
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